October 08, 2012
| by Steve Crowe
A favorite brand among audio lovers, McIntosh Laboratory, has been acquired by Milan, Italy-based Fine Sounds SpA, which also owns Sonus faber, Audio Research Corporation, Wadia Digital and Sumiko.
Terms of the deal were undisclosed, but according to the Wall Street Journal, citing “a person familiar with the transaction,” Fine Sounds paid between $50 million and $100 million for McIntosh.
Fine Sounds is owned by Quadrivio, an investment management company based in Milan.
Mauro Grange, CEO of Fine Sounds Group, says the acquisition will strengthen Fine Sounds’ brand portfolio, giving the company a broader product offering that covers more categories. He adds that McIntosh “does not compete with any of the other brands we hold – it is positioned quite differently – and offers opportunities for great synergies which we can leverage.”
“We are thrilled to welcome McIntosh, one of the industry’s most illustrious brands, into our portfolio,” adds Grange. “McIntosh is dedicated to the highest caliber of high-end audio and is a perfect fit with our own culture and vision. We will treasure and protect the legacy of McIntosh as well as its people and reputation.”
McIntosh was owned by D+M Group (formerly known as D&M Group), which produces audio and home theater product under the Denon, Marantz and Boston Acoustics brands.
“We are very excited to be joining hands with a partner that has a deep appreciation for our unique brand, history and company culture,” says Charles Randall, president and CEO of McIntosh, who will continue managing the McIntosh brand with the full support of Mauro Grange and the Fine Sounds’ team. “It’s their appreciation of our legacy, as well as their strong leadership, distribution advantage and marketing expertise that gives us confidence in a bright future.”